Andrew Kessel
2 min read
In This Article:
-
AMD's "Advancing AI" keynote is scheduled for Thursday, with CEO Lisa Su and other executives expected to deliver updates on the company's latest chips.
-
Citi analysts anticipate the launch of the MI355X AI GPU at the event, as well as details on the MI400 expected next year.
-
AMD may also announce new high-profile tech customers like Amazon or OpenAI, they said.
Advanced Micro Devices (AMD) CEO Lisa Su is set to take the stage tomorrow for a keynote presentation on the chipmaker's latest developments in artificial intelligence.
Citi analysts said they anticipate AMD will use the event to launch its latest AI GPU, the MI355X, which the bank said could come with more high-bandwidth memory and at a lower price point than rival Nvidia’s (NVDA) B200 chip. The company could also offer updates on its upcoming MI400 model, which Citi expects to ramp in the second half of 2026. The keynote is set to begin Thursday at 12:30 p.m. ET. (You can watch the event here.)
AMD could reveal new high-profile customers as well, such as Amazon (AMZN) or potentially OpenAI, Citi said. The bank maintained a "neutral" rating for the stock, while raising its price target to $120 from $100. The mean target of the 11 analysts covering AMD tracked by Visible Alpha, including Citi, is about $121, suggesting little change from Wednesday's intraday price. The stock has climbed less than 1% since the start of the year.
The event comes after AMD delivered quarterly results last month that beat Wall Street’s expectations on the strength of its data center sales. However, the company warned it could take a hit in the current quarter to the tune of $800 million related to tightening restrictions on sales of its chips to China. Rival Nvidia said it took a $4.5 billion charge in its fiscal first quarter associated with new export curbs.
Read the original article on Investopedia
